Lots of reactions in, following the NDA government’s second budget announced on Saturday, February 28, 2015. Some of the reactions below have been clipped to remove fluff, and for brevity: On Taxation: - Saahil Hoel, CEO & co Founder, KartRocket.com Tax on royalty/fee for technical services reduced from 25% to 10% will help reduce cost of technology and reduction of Corporate tax to 25% from 30% will help companies divert more money towards investment and growth. However an increase in the rate of service tax will have an adverse impact even though the government is of the opinion that this would help facilitate the transition to GST . - Divakar Vijayasarthy, Founder, MeetUrPro Reducing the tax and withholding rates from 25% to 10% is a hugely positive step. The effective reduction is taxation is more than 22% given the fact that most of the technology agreements are “net of tax” transactions. This amendment makes cost of technology a lot more accessible and affordable to the Indian startups and businesses. Reduction of corporate tax from 30% to 25% over a period of 4 years would bring India at par with many of the attractive business destinations of the world. Currently the average corporate tax rate is around 23%. However with gradual phasing out of exemptions, the overall change is taxation position seems marginal. The positive takeaway is the possibility of reduced litigation owing to taxation exemptions. - Bhaskar Pramanik, Chairman-Microsoft India The reduction in corporate tax, albeit over the next four…
- Is age-verification the answer to protecting children from online harms? #NAMA March 30, 2023
- Here are 6 ways the Indian government is collecting your facial data March 30, 2023
- India’s telecom regulator Directs Telcos to Report Major Network Outages March 30, 2023
- No report available on economic cost of internet shutdowns in India: Telecom Dept in Parliament March 30, 2023
- MediaNama Daily: Fraud vs Fintech March 30, 2023
MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.
Amazon announced that it will integrate its logistics network and SmartCommerce services with the Open Network for Digital Commerce (ONDC).
India's smartphone operating system BharOS has received much buzz in the media lately, but does it really merit this attention?
After using the Mapples app as his default navigation app for a week, Sarvesh draws a comparison between Google Maps and Mapples
In the case of the ‘deemed consent' provision in the draft data protection law, brevity comes at the cost of clarity and user protection
The regulatory ambivalence around an instrument so essential to facilitate data exchange – the CM framework – is disconcerting for several reasons.
Please subscribe to MediaNama. Don't share prints and PDFs.
You May Also Like
Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...
135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...
Twitter takes down tweets from MP, MLA, editor criticising handling of pandemic upon government request
By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...
Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...